Resilient growth

Last update – January 2024
Business environment risk
Political risk
Commercial risk
Financing risk
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GDP USD251.9bn (World ranking 50, World Bank 2022)
Population 10.4mn (World ranking 90, World Bank 2022)
Form of state
Parliamentory Democracy
Head of state
Antonio COSTA
Next elections
2026 (presidential), 2026 (legislative)
  • Improving competitiveness thanks to deep structural reforms (banking sector, pensions, labor market)
  • Modern infrastructure network
  • Large companies with international presence
  • Good performance in some industrial and innovative sectors
  • Buoyant tourism sector
  • Efficient system for R&D, relatively high-skilled labor
  • Fiscal-consolidation reforms
  • Still high public debt (among the highest in the world) despite fiscal-consolidation efforts
  • High private sector debt
  • Still weak banking system hampering the financing of the economy
  • Number of insolvencies still 30% higher than in 2007
  • Political turbulence
  • Complex legal system and poor rail and technological infrastructure

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  Exports Rank Imports  
Spain 26.1% 1 32.1% Spain
France 12.4% 2 11.2% Germany
Germany 10.9% 3 6.1% France
United States 6.5% 4 5.1% China
United Kingdom 4.9% 5
China.png 5.0% Netherlands

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Exports Rank Imports
Road vehicles 11.8%
10.3% Petroleum, petroleum products and related materials
Petroleum, petroleum products and related materials 7.1%
9.2% Road vehicles
Electrical machinery apparatus and appliances, n.e.s. 4.8%
5.3% Electrical machinery apparatus and appliances, n.e.s.

Articles of apparel & clothing accessories 4.6%

4.4% Gas, natural and manufactued
Manufactures of metal, n.e.s. 4.4%
3.8% Telecommunication and sound recording apparatus
Roberta Fortes
Allianz Trade